Toyota to best GM’s profit

Filed under: GM , Toyota , Earnings/Financials Toyota has had some recent setbacks, what with last year’s natural disasters and its lengthy recall problems . But according to Bloomberg , the carmaker is back on track, and is expected to post its largest profit in five years. Toyota reports financial results for its fiscal year tomorrow, and is expected to have a $10 billion net income, which would put Toyota ahead of General Motors in earnings, according to the report. The Japanese automaker is expected to forecast a 12 percent sales growth for next year, which would make it the largest global carmaker by revenue, though Volkswagen is expected to lead in earnings. Bloomberg reports that Toyota’s 2012 calendar year sales are expected to increase 21 percent, to 9.58 million units, which would be a record for the automaker. Toyota shares on the Tokyo stock exchange are up 22 percent for the year. Toyota to best GM’s profit originally appeared on Autoblog on Tue, 08 May 2012 18:02:00 EST. Please see our terms for use of feeds . Permalink